In a press statement, CEO of Embraer Michael Amalfitano said, “The Praetor 500 and Praetor 600 are the disruptive aircraft for the entrepreneur, pioneer and innovator.”Read More
The latest H20 from HYT looks to this visual art that operates in three dimensions to shed light on the essence of time. Viewed from any aspect, the sculpted timepiece unveils new angles on time, while colored and clear liquids keep its essential flow permanently present. Second by second, further layers of time are revealed, witnessed and anticipated. The all-black color-scheme, right through to the coating of the movement's bridges, intensifies the visual drama between mystery and transparency. This intrinsic interplay of time and space brings to life the core HYT belief that time is defined by content and context.Read More
Christie’s International Director of Wine Tim Triptree MW enthuses over a hand-painted bottle of The Macallan that spent six decades in an ex-sherry oak cask, and which is expected to set a new world auction record in London in NovemberRead More
A bottle of Scotch whisky fetched £848,000, or $1.1 million USD, at an auction on Wednesday smashing the world record.
Distilled in 1926 and bottled in 1986, The Macallan Valerio Adami 1926 60-year-old, referred to as “The Holy Grail of whisky,” was auctioned by Bonhams in Edinburgh.
What stands out with this bottle is the label’s artwork and the limited number produced. At the time, renowned pop artists Valerio Adami and Peter Blake were commissioned by Macallan to design labels for 24 bottles, with each artist contributing to 12 bottles. Adami, now 83, is an Italian painter best known for his bold and colorful imagery outlined by black lines.
It’s unclear how many of those Macallan bottles are still in existence, but they’ve made headlines at other auctions.
In May, a bottle of The Macallan Valerio Adami 1926 sold for £814,081, or $1.05 million USD, which was the world record at the time. At that same auction, a bottle of The Macallan Peter Blake 1926 sold for £751,703, or about $976,000 USD.
“Its exceptional rarity and quality puts it in a league of its own, and the world’s most serious whisky collectors will wait patiently for many years for a bottle to come onto the market,” Bonhams Whisky specialist Martin Green said in a statement ahead of the auction.
High net-worth investors have earned returns on investing in collectibles. Wealthy investors make so-called “passion investments” in things like fine wine, classic cars, musical instruments, rare books, jewelry, collectible stamps, gold, silver, gemstones, and other treasure assets.
According to a recent report from Credit Suisse, ultra high net worth individuals on average have about 6% of their assets in these collectibles. And it turns out collectibles such as art, wine, and musical instruments have outperformed more traditional assets like cash and government bonds. The authors of the Credit Suisse report looked at collectibles with 118 years of data.
Of the collectibles that had 118 years of data, the report found that wine was the best performer, with an inflation-adjusted price appreciation of 3.7% per year.
Original Post: Yahoo Finance
With MB&F you sometimes wonder how they can move on to the next watch based on their past creations. As both their designs as well as their movements are cutting edge, it is hard to see the next logical step, at least when your name is not Maximilian Büsser and you founded the brand. The challenge is to not only offer a new watch with an incredible wow-factor but also to inject it with sufficient MB&F-DNA and have it as a natural extension of the current collection. With the introduction of the new MB&F HM9, we can say once again; mission accomplished!
The ‘pods’ on each side of the main body of the HM9 contain a balance wheel, which can be admired through a sapphire window. The rate of them is balanced out by a planetary differential, that is located in the central body of the watch, and displayed at the front of the watch. MB&F will launch the HM9 ‘Flow’ in two editions of 33 pieces each, that share the titanium case. The ‘Air’ edition features a dark finish on the movement and a dial in aviator-style. The ‘Road’ edition pays tribute to 1950’s cars with a speedometer inspired dial, and a rose gold plated movement.
Read Full Article: HauteTime
Still life is never about life standing still. Just like an element of one of those beautifully haunting paintings, the HYT Skull 48.8 has carpe diem on its mind. This distinctive timepiece continually reminds of the importance of seizing every second. Highlighting time’s passage using liquids, it focuses on the power of the present, the very elixir of life.
The charismatic protagonist of this mesmerizing staging of time’s flow is a skull-shaped capillary. A patented fluidic module and exclusive mechanical calibre bring this to life. Colored liquid symbolizes reflection, while its transparent counterpart speculates reservedly on the future. Their meniscus meeting point precisely depicts the vital now. The broad eyes on the dial of the Skull 48.8 intimidate intentionally, prompting onlookers to take a closer look at how they themselves are spending their time. Behind the right eye is a rotating disc expressing the passing of each precious second as it fades from dark to pale. Placing time’s essential momentum center stage, the counting of the minutes moves backstage, eliminating the need for a minute hand.
Light and color play accomplished supporting roles in the drama of the Skull 48.8. Three limited editions incorporate red, green and blue fluid respectively. As each shade flows around the skull to represent elapsed life, it extends its contrasting influence over the monochromatic backcloth of the galvanized dial and titanium case. This deliberate tension fascinates the eye, as does the effect of light on the differently treated, unmistakably modern grey surfaces. Confirming the force of color-coding are grey fabric straps within a structure that matches the influencing tone. The present requests our presence.
Two iconic names that join forces and together create a watch: it sounds like a match made in heaven, yet in the watch world there are plenty of examples where such a partnership resulted in watches that couldn’t even uphold their position among the regular collection of the brand. For Hublot, such partnerships have always been a way of life, and their approach towards it has always been organic. They know their own DNA, yet they also know what DNA of their partner makes it such a strong brand. That is why their partnership with Ferrari has over the years resulted in beautiful and innovative watches, with as current highlight the Techframe Ferrari Tourbillon Chronograph.
What makes the Techframe Ferrari Tourbillon Chronograph so special is first the occasion for which it is created: the 70th anniversary of the brand with the prancing horse. Secondly also the way that it was conceived is unique: Ferrari’s own Design Center, headed by its Head of Design Flavio Manzoni, developed the watch in the same way as that they do one of their sports cars, yet now also integrate Hublot’s watchmaking expertise.
The dial highlights all the technical treats that the watch has to offer. Of course, this includes a flying tourbillon, but also essentials parts of the chronograph are exposed. The chronograph itself is a mono-pusher and operated by a lever in Ferrari red anodized aluminum. This allows its owner to operate it with great ease and precision.
The back offers even more of an insight into the amazing movement that powers the Techframe Ferrari Tourbillon Chronograph. Caliber HUB6311 is a manual wind movement that consists out of 253 components and has a generous power reserve of five days. Combined with its flying tourbillon and column wheel chronograph is this caliber complicated, yet Hublot also delivers an aesthetically very pleasing movement as is evident from the back.
Read Full Article: Haute Time
The Balvenie Single Malt Scotch Whisky and Christie’s Auction House are set to debut a first-of-its-kind auction lot fit for a true whisky connoisseur. The exclusive offerings will include The Balvenie DCS Compendium Chapter 4, an eponymous collection of five rare whiskies from the world’s longest-serving Malt Master David C. Stewart MBE, a bespoke Morgan V8 Roadster, inspired by and hand-crafted with The Balvenie in mind, and a trip to Scotland.
To complete the experience, the buyer will be invited on a behind-the-scenes tour at The Balvenie distillery, where they will get a first-hand look at the five rare crafts that contribute to the whisky’s distinctive taste and personally experience the magic that goes into each and every drop. It is the only distillery in the world that still grows its own barley, uses traditional floor maltings, keeps both coppersmiths and coopers on site, and employs the longest serving malt master in the industry – making The Balvenie the most handcrafted of single malts.
The auction will be hosted on Christie’s online platform with bidding opening at 10 a.m. EST on September 25th, 2018 and closing at 10 a.m. EST on October 9, 2018. Featuring sought-after collector’s items and a unique experience at The Balvenie distillery, this iconic lot is a true testament to both brands’ dedication to quality and craftsmanship of the highest order.
Read Full Article: Haute Living
This fall, The Macallan, is launching a new immersive event series, The Macallan Manor, reinventing whisky tasting through a stunning, multi-sensorial experience. The event series embarks on a three-month tour across nine major U.S. cities starting in New York and concluding in Los Angeles in November.
Designed to surprise and delight, The Macallan Manor transforms historic, old-world manors into luxury, first-class tasting experiences, blending the sensorial with storytelling and converting new consumers to Scotch whisky fans.
Guests will journey through four immersive worlds, each a unique experience created around one of The Macallan’s whisky expressions, pairing set design with storytelling and multi-sensory experiments to delve into each of the five senses.
Attendees of The Macallan Manor can expect one-of-a-kind immersive tastings taking place in unexpected locations such as an oak forest with flavor-enhancing flowers imported from the Amazonian rainforest, or a cooperage in Spain. Additionally, guests can expect an innovative food menu, featuring edible clouds for starters – masterfully paired with The Macallan and designed to stimulate and intensify an already premium whisky-tasting experience.
September 20, September 21
The Algonquin Club
September 26, September 27
October 2, October 3
Texas Federation of Women’s Clubs
October 11, October 12
October 17, October 18
International Museum of Surgical Science
October 23, October 24
Arts Club of Washington
October 30, October 31
Callanwolde Fine Arts Center
November 6, November 7, November 8
Read The Full Article: Haute Living
Dewar’s Legacy Collection 1893, of which only 1,000 bottles are available at a price of around $3,900, is described as being “skillfully blended from 20 rare and long-aged whiskies, many of which were used by Dewar’s founder” that were “sourced from rare and long-aged casks from Aberfeldy and Royal Brackla distilleries.” It is the first of three limited edition whiskies in a series celebrating key historical moments for the brand.
The packaging this special whisky comes in is rather mind blowing: “presented in the finest hand-blown crystal decanter with handcrafted silverware made by Scottish craftsmen, the design is inspired by the dirk, the Scottish ceremonial dagger. The dirk is decorated with a thistle motif with detailing in 22-carat gold, and has as its centerpiece nine sapphires inspired by the famous Stuart Sapphire, owned by many Scottish kings before it became part of Queen Victoria’s Imperial State Crown. The decanter is housed in a burr walnut and gold metal box, which displays some of the many prestigious awards won by Dewar’s.”
As for tasting notes, it is said that “the palate is rounded, creamy and sweet, with enticing flavors of vanilla, toffee and mature oak, balanced with complex-yet-delicate aromatic spices and coconut aromas. Each mouthful reveals dried fruit cloaked in a wisp of smoke.”
Full article: The Whisky Wash
The Manhattan is Embraer’s latest creation after hits such as the Japanese-inspired Kyoto Airship, the Brazil-meets-Texas Skyranch One and the celebrity-hailing Hollywood Airship. The concept aircraft is the brainchild of Embraer interior design head Jay Beever and former Disney Imagineer Eddie Sotto, who infused the fuselage with elements characteristic of Art Deco’s jewelry, buildings and furniture.
The result is a highly bespoke interior that comes with a price tag of $83 million, which includes $53 million for the Embraer’s iconic Lineage 1000E, the backbone and bearer of the Manhattan.
Lineage 1000E’s Manhattan edition, which boasts a range of close to 5,300 miles, easily accommodates between 13 to 19 passengers, who, upon entry, step into an upscale lounge instead of a galley. Next to it is a Cloud Club, complete with fold-away bar stools.
Read Full Article: HauteTime
Gulfstream has created one of the most impressive business jets on the market by adding an Extended Range prefix to the end of its G650,
With its legendary G650, Gulfstream already had a world-class private jet on its books. However, as the business world becomes even more unified, the need for a luxury bird with transoceanic capabilities becomes all the more important, and so, the G650ER was born. The ER (Extended Range) is a real technological showcase; a flying apartment, that can get you from Hong Kong to New York, Los Angeles to Melbourne, or Dubai to Atlanta in complete luxury and very quickly.
Two huge Rolls-Royce BR725 make the most of the ER’s 27,442kg fuel load, enabling her to travel 7,500 nautical miles, at Mach 0.85, with eight passengers and four crew on board. To put this into perspective, Airbus’ giant, the A380 can travel only 1000 nautical miles more at the same speed with 361,000kg of fuel in her wings. This sort of range makes Sydney a viable business trip from Dallas, or Riyadh.
There is another bonus to that fuel capacity though. With a 46,992kg maximum takeoff weight, that extra fuel can be swapped for heavier payload for shorter trips, with a top speed of Mach 0.90 achieved during short haul, low-weight missions. It also has the ability to fly between 41,000 and 51,000 feet – much higher than the weather and the crowded 39,000 feet altitude inhabited by the world’s commercial airliners.
Inside the ER, that high altitude cruise speed goes completely unnoticed by its passengers. In fact, the pressure isn’t felt at all. The air in the cabin gets replenished with 100% fresh air every two minutes, with an overall cabin altitude (air pressure) of 4,060 feet at an altitude of 45,000 feet. For the layperson, the higher the cabin altitude, the less oxygen is taken up by the blood, and the more gases within the body expand. The ER has a cabin altitude almost two times lower than that of a conventional airliner, which means passengers touchdown feeling more refreshed and alert.
The G650’s cabin also plays a part with how chilled you are on landing. Available with a choice of 12 predefined floorplans, the ER has a layout to suite any need, from single businessperson, up to a 19-player football team. Customisation is also a large part of Gulfstream ownership with any request, from a private master suite to a large conference room, realised at the factory.
With the Gulfstream Cabin Management System (GCMS) taking care of the inflight entertainment, long distance flights on board the G650ER can be as relaxed as needs be. But, as time is money, the ER’s two multichannel satellite communications systems and a wireless local network means that travelers can stay as connected on board as they are on the ground.
The Gulfstream G650ER is a remarkable business jet and one that has been racking up record after record – the recent Singapore to Las Vegas, 8,010 nautical miles nonstop, in just over 14 hours is mind-blowing. The business world has suddenly become a very small place.
Origin: Haute Time
Roger Dubuis releases it's third version of a new (limited) edition Excalibur Knights of the Round Table. Limited to 28 pieces
Roger Dubuis uses pink gold to craft the knights from, and despite their polygonal appearance it takes dedicated craftsmanship and a lot of patience to create each of them. All twelve of them are also finished to perfection before they take their place at the round table inside the 45mm Excalibur case. Each dial takes on average 45 hours to complete.
As is traditional with the ‘Knights of the Round Table’ editions of Roger Dubuis, it has the pledge engraved on it, along with a blue, transparent case back with below it Calibre RD 821. This self-winding movement is made in-house by Roger Dubuis, has a power reserve of 48 hours and comes with the prestigious Geneva Seal, testifying further for its exquisite make and finish.
Read Full Article: Haute Time
The independent, international jury of the prestigious Red Dot Award has announced the HYT H0 timepiece as one of its 2018 winners. This unique union between fluid technology and the flow of time, with its patented fluidic module, impressed with its high design quality among submissions from 59 countries. The prize will be presented at a special gala in Essen on July 9, 2018. This date also marks the opening of a related exhibition in the city’s Red Dot Design Museum, the largest museum for contemporary design worldwide. The H0 Black will feature in the Red Dot Design Yearbook, on https://red-dot-21.com and in the accompanying app. HYT is proud that the product it regards as the purest expression of its technical expertise and philosophy on time’s passage has achieved this best-in-class status.
HYT was born of a question. Time flows and only gains meaning through content. So why limit its measurement to indicating the now in splendid isolation, with needle-sharp hands or fleeting digital displays? Determined that its rebellion should make statements and waves, a multi-disciplinary think-tank set out to create timepieces that visibly connect the past, present and future. The HYT answer is a watch that overcomes the force of gravity to indicate the passage of time with liquids. Highly advanced technology took its cue from philosophy to mirror time’s intrinsic fluidity.
The rest is history. To be precise, it’s history that began 3,400 years ago with the Clepsydras, or water clocks, of the Pharaohs. These so-called “water thieves” transported H2O from one container to another to measure elapsed or “stolen” time. This meaningful visualization of the transition of time seemingly disappeared until 2012, when HYT broke new scientific ground, inventing a wristwatch integrating a patented fluidic module. A colored liquid documents the recent past; a transparent fluid indicates the foreseeable future. Their meeting point is a meniscus, aka the now.
Today HYT is an ecosystem that unites science, hi-technology, philosophy, art and design. Based in Neuchâtel, at the heart of the traditional Swiss watchmaking region, a dedicated team of 43 individuals makes liquid time real time. Their radical wristwatches harmoniously incorporate a mechanical watch movement as the trigger to the fluid propulsion. They make total sense of time – time and time again.
Keeping a private plane on hand is a costly business that even the mega wealthy may not indulge in.
According to new research, the cost of owning and maintaining a private jet is so great that the estimated mean average wealth of such a person is calculated at around $1.5 billion. Much less than that and the numbers simply don't stack up.
For example, a long-range Falcon 2000DX is estimated to cost around $40 million, and that's only the upfront purchase price. This has led to the rise of alternative models such as a membership program, fractional ownership or buying by the hour.
But why even use a private jet? Could first class commercial travel not offer all the comfort needed, at a fraction of the cost?
It doesn't matter if you are seat 1A in first class, as you will still have to be processed through security. Ultra-High Net Worth individuals (those with more than $30 million in assets) are not comfortable to wait around, according to the survey, and appreciate that they can drive right up and fly at a moment's notice.
Other perceived savings come in the form of purchasing and booking time as well as the logic that private aviation can save time if the final destination is near a smaller airfield.
The rich can often be fastidious about controlling elements of their life and travel is a common concern. One VistaJet customer noted that if a meeting overran, it provided no stress as the jet would be there waiting.
The drive for control also extended to the on-board experience. Many flyers said they want the experience to be an extension of their normal lifestyle. They don't view private jet travel as a luxury experience and rarely drink champagne.
Report co-author Winston Chesterfield noted that one private jet flyer liked to know that if he wanted a burger and fries, it was not going to be a problem.
Perception of safety
Managing risk is a common skill for the wealthy and often a high-end traveller will consider private travel to be safer than a commercial offering. The report claimed that the two dominant factors are the age of the plane and the visual condition of both its exterior and cabin.
The report said that many wealthy individuals don't like to travel on older aircraft and that commercial airlines cannot guarantee a newer plane.
One person quoted in the survey said that the presentation of the plane and staff was important because it suggested a high level of care was also being placed on operation and maintenance.
A private jet allows individuals to fly without being recognized. Many clients are operating under a corporate banner and business trips involving well-known executives can be conducted in relative secrecy.
Jet owners also said they feel more secure as they have full control over the pilot and other staff on the aircraft. This of course is less obvious on a membership or fractional ownership basis but can be achieved to a degree.
There is one big downside, however, as full ownership of a plane means that as it flies around, others will know who is likely on board and where they are going.
There is no comparison between private jet travel and commercial airlines when it comes to cost. And the survey found that, even if affordable, a private flight was not always preferred.
The report suggested many private flyers see the benefit of private aviation for domestic flights within the U.S. or across Europe.
But when it comes to longer flights, however, often commercial is winning out among those surveyed. Many noted that loyalty rewards for first class travel can be very generous and can be used to offset future costs.
So who flies private?
Private jet flyers are separated into three groups in the report. Owners, who own all or part of an aircraft; members who are part of a private-flying program; and the rest who may use a variety of methods to fly — including using first class commercial.
The report found that a typical traveler in all three segments would be overwhelmingly male (around 90 percent) and has about a one-in-five likelihood of working within the finance world.
Other well represented industries included real estate, industrial conglomerates and technology.
The mean average age ranged from 65 for full owners, 61 for members and 60 for the rest.
Three out of four jet owners have self-made wealth, while the figure falls to around two-in-three for the other segments.
The mean average wealth for a jet owner was $1.5 billion, £1.1 billion for members and $670 million for those who mix between charter and commercial first class.
As tree-to-bar chocolate makers, To'ak draws heavily from the techniques and tradition of both winemakers and whisky distilleries. As with wine, the flavor characteristics of dark chocolate vary according to the soil and climate in which the cacao was grown. At To’ak, they make their chocolate to express the land and weather idiosyncrasies of each specific year.
To’ak was born from a rainforest conservation project that co-founder Jerry Toth started in Ecuador in 2007. Through his nonprofit foundation Third Millennium Alliance (TMA), he helped create the Jama-Coaque Ecological Reserve, which currently protects over 560 hectares (1,400 acres) of tropical forest along the coastal mountain range. It was here that he began cultivating cacao trees and making chocolate by hand in a thatched bamboo house secluded in the middle of the forest.
Part of their technique is the matter of applying barrels or other aging vessels in combination with Time. As they've learned from whisky makers, about 70% of the flavor of a well-aged whisky is derived from the barrel in which it was aged. Extractable flavor compounds in the barrel are what give the whisky its defining features. To’ak is the first tree-to-bar chocolate maker that comprehensively applies this principle to chocolate.
In the middle of each To’ak chocolate bar is a single roasted cacao bean, which co-founders Carl and Jerry hand-select themselves. "We recognize there is a tendency to forget that chocolate is ultimately derived from the fruit of a tree. It is our wish to share with connoisseurs the opportunity to taste the true source of chocolate and its most fundamental element—the cacao bean itself. Although the bean inevitably expresses some of its inherent bitterness, it also reveals the more robust, unprocessed elements of its essential flavor, with a rich nutty undertone. We believe that tasting the actual cacao bean is a crucial step toward the understanding of chocolate from a deeper perspective."
For the last three years, every classic car that has won “Best of Show” from prestigious concours is then judged head-to-head against all the other global winners to be named “Best of the Best.” The award is a little bit like an All-Star game, except these stars come from Amelia Island, Goodwood, Quail, Pebble Beach, Concorso d’Eleganza, and other car shows around the world. The goal is to see which one rides at the absolute pinnacle of any of the classic vehicles displayed that year.
On Wednesday evening, a 1936 Bugatti Type 57 SC Coupé Atlantic owned by car connoisseur Peter Mullin won the award for top vintage car of 2017. The honor is sponsored by the Hong Kong-based Peninsula Hotels chain, and this year, the gala celebration of the honor was held at the Peninsula Paris.
The winner of the Chantilly Arts & Elégance Richard Mille concours in France, this Bugatti is one of only three extant road-going versions of this seminal French supercharged supercar. This particular vehicle was sold new to a scion of the baronial Rothschild family, and passed through a few hands before being acquired by Peter Mullin for his Mullin Automotive museum in Oxnard, Calif., for a reported sum of over $30 million. Its Streamline Moderne styling is capped by an external riveted seam that runs the length of the car, a distinctive vestige of the un-weldable (flammable!) alloy from which racing versions of the same design were made.
Read full article on all the these vintage cars at Bloomberg Pursuits
Marina-Mansion is well known for being the market leader in luxury Real Estate in Marbella. The properties they control are in prestigious locations sought out by high net worth individuals, areas such as costa del sol, including Puerto Banus, La Zagaleta, Marbella’s Golden Mile, Sierra Blanca, Marbella Club, Puente Romano, El Madronal, Los Monteros, Gualdalmina Baja, New Golden Mile, La Quinta and Nueva Andalucia.
Marina Mansion are professionals in the market with over 20 years experience, and they stand by their highest ethical standards in ensuring consumer confidence. You will enjoy safe, secure and professional service with folks at Marina Mansion.
Visit their offerings at: Marina-Mansion
Audemars Piguet, the Swiss maker of the rugged Royal Oak watch, plans to open standalone stores to buy and sell secondhand timepieces, seeking more control over its products throughout their life cycle as the industry looks for new sources of growth.
The preowned business could be 10 to 20 times the size of the market for new watches, Chief Executive Officer Francois-Henry Bennahmias said at a show in Geneva. Until now it’s mostly been left to auction houses, independent local shops and online platforms like Amazon.com Inc. and eBay Inc., with Swiss brands focusing on building an aura of exclusivity around their new creations.
“We have to recapture that market, because we believe we can do that better,” he said in an interview at the Salon International de la Haute Horlogerie.
Switzerland’s four-century-old watchmaking industry is experimenting with new strategies after a multiyear slump that came amid a crackdown on corruption in China and the rise of the smartwatch. Last year’s export growth of about 3 percent was a far shot from the double-digit pace of the previous decade.
Audemars Piguet, which makes around 40,000 new timepieces annually and is one of an increasingly rare breed of large independent watchmakers in an industry dominated by Richemont, Swatch Group AG and Rolex, will open stores selling used models of its own brand within three years, Bennahmias said. The brand has tested the concept at a store in Geneva’s Grand Hotel Kempinski, and it plans to start trials in the U.S. and Japan.
It’s not the only brand looking into the secondhand business. Jean-Claude Biver, head of LVMH watch brands TAG Heuer, Hublot and Zenith, has said he’s considering entering the market.
Read Full Article: Bloomberg
One of the biggest diamonds in history has been discovered in the mountainous kingdom of Lesotho in southern Africa.
Gem Diamonds Ltd. found the 910-carat stone, about the size of two golf balls, at its Letseng mine in the country. It’s a D color Type IIa diamond, which means it has very few or no nitrogen atoms and is one of the most expensive stones. The diamond is the fifth-biggest ever found.
The Letseng mine is famous for the size and quality of the diamonds it produces and has the highest average selling price in the world. Gem sold a 357-carat stone for $19.3 million in 2015 and in 2006 found the 603-carat Lesotho Promise.
“This exceptional top-quality diamond is the largest to be mined to date and highlights the unsurpassed quality of the Letseng mine,” Chief Executive Officer Clifford Elphick said in a statement
Gem’s mega discovery follows news last week that it had found 117-carat and 110-carat stones.The biggest diamond discovered is the 3,106-carat Cullinan, found near Pretoria, in South Africa, in 1905. It was cut to form the Great Star of Africa and the Lesser Star of Africa, which are set in the Crown Jewels of Britain. Lucara’s 1,109-carat Lesedi La Rona is the second-biggest, with the 995-carat Excelsior and 969-carat Star of Sierra Leone the third- and fourth-largest.
Read More: Bloomberg